The investment, together with the previously announced US$5.5 million U.S. EXIM Bank support, positions Titan to fast-track completion of the Kilbourne Graphite Feasibility Study in 2026 and advance the project toward construction.
The investment will be completed through a private placement of 6,666,666 special warrants (each a "Special Warrant") at a price equal to US$2.25/C$3.10 per Special Warrant (the "Issue Price"). Each Special Warrant will entitle the holder, for no additional consideration and upon the satisfaction of certain conditions, to receive one common share ("Common Share") of the Company and one common share purchase warrant (the "Warrant").
Maxim Group LLC is acting as the exclusive placement agent in connection with the Offering.
The Warrants will be exercisable for up to three years in two tranches with 50% of the Warrants exercisable at a 35% premium to the Issue Price and the remaining Warrants exercisable at a 65% premium to the Issue Price.
The Company may call the Warrants if its Common Shares trade at greater than 150% of the applicable exercise price for 15 trading days within any 30 day period, upon 30 days' prior notice. Following a call notice, holders must exercise the Warrants or forfeit them.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act), and may not be offered or sold in the "United States" or to "U.S. Persons" (as ...